Your Individual Retirement Account (IRA) is designed to be a safe savings option along with its tax exempting character. However, smart investors will look beyond these known benefits and leverage the borrowing option to their advantage. Alongside smart investors, investors in need may also want to exercise their option to borrow money from their IRA. … Read more
Employers have strict restrictions on the withdrawal criteria of 401(k) type accounts. Early 401k withdrawals before the age of 59.5 attract a penalty of 10% in addition to income taxes. 401k withdrawals can only be made on medical grounds or in cases of defined financial difficulty 401k hardship withdrawals are given on rare occasions and … Read more
In planning for your future you have definitely looked into the best ways to handle your money so you have more of it when you ride off into the sunset. In your research you’ve come across Roth IRA’s and the benefits they give you in retirement. What you may not know are the rules and … Read more
Health insurance is something that is provided by almost every employer. There are far too many people who experience difficulty in maintaining their health and hence incur huge medical bills. To tackle the huge medical bills, employers introduced health insurance plans through which employees can avail free medical cover. The only problem for a health … Read more
A Safe Harbor 401k plan is a type of 401k plan with added benefits for the individual. The main difference of the safe harbor 401k plan is that it allows for individuals to contribute towards the retirement plan from their own salaries. The employers can contribute matching amounts to the plan for the employees. The … Read more
There are many leading companies in the market today. Hard money lenders refer to the lending companies that specialize in offering loans which are backed up with collateral – that is typically a real estate property. These moneylenders provide loans to people for a very short period. In most cases, the interest rates that are … Read more
Scottrade is an online broker and by far one of the best online brokers in the market today. By comparing the services offered by this company and the fees that they charge with the services and the fees of other online brokers, it can be seen that Scottrade is certainly one of the best online … Read more
The 401k retirement plan is a special type of account funded through pre-tax payroll deductions, where the funds can be invested in a number of places (for example stocks, bonds or even assets as chosen by the employee) and the interest earned by such funds is not taxed until they are withdrawn. The employer manages … Read more
An investment into an Individual Retirement Account, commonly known as IRA, would not be beneficial if it was just made without first pursuing the best IRA funds available in the market. By IRA funds we mean the options that are available in the market through which an individual can make the necessary investment as a … Read more
By definition a public company is a corporation or organization which offers its stock or bonds, otherwise known as securities to the general public or open market mostly through stock exchange. This happens when the company’s shareholders decide to offer their shares into the open market with a view to raise money for the expansion … Read more
The concept of a holding company may be quite complex and people often find themselves asking the question “what is a holding company?” A holding company is a company which owns the majority of the shares in another company or group of companies. They are usually corporations and sometimes are created with the sole aim … Read more
What is SUTA tax? SUTA stands for State Unemployment Tax Authority. It is a tax scheme begun by the state governments where employers are required to pay SUTA tax for their employees without deducting any amount for the same from the employees’ salary or wages. Normally the SUTA tax rate for an individual employer is determined … Read more
Every employed person in America has to pay the Federal Insurance Contribution Act tax commonly known as FICA tax. FICA withholding is done on the employees’ wages or salary where a deduction of a certain percent is made per annum usually 15.3 %. This deduction on the employee’s salary must be marched by the employers’ … Read more
FICA is the acronym for Federal Insurance Contribution Act. This tax is imposed by the United States Federal government to employees as well as employers in order to fund Social Security and Medicare. However, most people refer to it as FICA. It is the tax collection mechanism for social security. FICA tax is used to … Read more